Lycopodium (ASX:LYL) has secured an engineering, procurement, and construction management (EPCM) contract for the development of Perseus Mining’s (ASX:PRU) Nyanzaga Gold Project in Tanzania.
The EPCM contract, valued at $48 million, involves Lycopodium delivering EPCM and commissioning of the 5 million tonnes per year conventional carbon-in-lead processing plant, with the first gold production anticipated in Q1 2027.
The company will also commission a selection of associated non-process infrastructure, including an 11 kilovolt power reticulation, water supply from Lake Victoria, tailings pipeline, decant return, workshop and warehouse.
Nyanzaga will be initially mined via open pit mining methods and offers future scalability for open pit and underground operations.
Lycopodium, which has a market capitalisation of $456.21 million, says the award is the third major project partnership with Perseus, following supporting the development of the Sissingué and Yaouré gold mines.
The company also builds upon its early involvement in the Nyanzaga Project, including the Prefeasibility Study, Definitive Feasibility Study, and the most completed Front End Engineering and Design.
Lycopodium provides integrated engineering, project construction and asset management solutions. The company is focused on delivering complex multidisciplinary projects through to a provision of feasibility studies and advisory services.
Write to Aaliyah Rogan at Mining.com.au
Images: Perseus Mining
